Andhra Pradesh Mahesh Co-operative Urban Bank FD Rates

Andhra Pradesh Mahesh Co-operative Urban Bank offers a host of benefits on its fixed deposit (FD) schemes. You can open a fixed deposit for a tenure ranging from 7 days to 10 years. The interest rates offered to the general public range from 3.00% p.a. to 6.25% p.a.

Senior citizens (aged 60 years to 70 years) can benefit from an additional interest rate of 0.50%. Similarly, super senior citizens (aged above 75 years) will be offered an additional interest rate of 0.75%.

Andhra Pradesh Mahesh Co-operative Urban Bank FD Interest Rates

The interest rates for fixed deposits offered by Andhra Pradesh Mahesh Co-operative Urban Bank are mentioned in the table below:

Tenure General Public Interest Rates p.a. Senior Citizen Interest Rates p.a. Super Senior Citizen Interest Rates p.a.
7 days – 29 days 3.00% 3.50% 3.75%
30 days – 90 days 4.00% 4.50% 4.75%
91 days – 180 days 4.50% 5.00% 5.25%
181 days – 299 days 5.25% 5.75% 6.00%
300 days 6.10% 6.60% 6.85%
301 days – 1 year 5.50% 6.00% 6.25%
Above 1 year – 2 years 6.00% 6.50% 6.75%
Above 2 years – 3 years 6.25% 6.75% 7.00%
Above 3 years – 5 years 6.00% 6.50% 6.75%
Above 5 years 6.00% 6.50% 6.75%
Tax Saver Deposit Scheme (5 years and above) 6.25% 6.75% 7.00%

Note: The interest rates mentioned in the table above are effective from 1 November 2021.

Andhra Pradesh Mahesh Co-operative Urban Bank NRE FD Interest Rates

Given below are the interest rates on NRE deposits offered by Andhra Pradesh Mahesh Co-operative Urban Bank:

Tenure Interest Rates (p.a.)
301 days – 1 year 5.50%
Above 1 year – 2 years 6.00%
Above 2 years – 3 years 6.25%
Above 3 years – 5 years 6.00%
Above 5 years 6.00%

Note: The interest rates mentioned in the table above are effective from 1 November 2021.

Types of Fixed Deposit Schemes

Andhra Pradesh Mahesh Co-operative Urban Bank offers the following fixed deposit schemes:

  • Fixed Deposit
  • Mahesh Automatic Renewal Scheme (MARS)
  • Mahesh Daily Deposit Scheme
  • Mahesh Cash Certificate (MCC)
  • Mahesh Dynamic Fixed Deposit Scheme
  • Mahesh Mangal Nidhi (MMN)
  • Mahesh Tax Saver Fixed Deposit & Mahesh Tax Saver Multiplier Deposit Scheme
  • Mahesh Lakhpati Yojana
  • Mahesh Multiplier Deposit Scheme

Features and Benefits of Andhra Pradesh Mahesh Co-operative Urban Bank Fixed Deposits

The fixed deposits offered by Andhra Pradesh Mahesh Co-operative Urban Bank come with the following features and benefits:

  • Attractive interest rates.
  • Multiple tenures ranging from 7 days to 10 years.
  • Additional interest rates for senior and super senior citizens.
  • Premature withdrawal of fixed deposits is allowed.
  • A fixed deposit can be opened by individuals, joint investors, minors, associations, companies, etc.

FAQs on Andhra Pradesh Mahesh Co-operative Urban Bank FD Rates

  1. What are the interest rates offered on fixed deposit schemes by Andhra Pradesh Mahesh Co-operative Urban Bank?

    Andhra Pradesh Mahesh Co-operative Urban Bank offers interest rates ranging between 3.00% p.a. and 6.25% for the general public.

  2. Do senior citizens get any additional interest rates on the fixed deposit schemes?

    Yes. Andhra Pradesh Mahesh Co-operative Urban Bank offers an additional interest rate of 0.50% and 0.75% to senior citizens and super senior citizens, respectively.

  3. What is the interest rate for NRE deposits?

    In case of NRE deposits, the interest rates range from 5.50% p.a. to 6.25% p.a. for tenures of 301 days to above 5 years.

  4. Is a premature withdrawal facility available?

    Yes. The facility of premature withdrawal is available.

  5. What is the penalty for premature withdrawal of a fixed deposit?

    A penalty of 1% is levied on the premature withdrawal of a fixed deposit.

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